Europe Wine Market Report

Europe Wine Market Size:

The Europe wine market size reached US$ 75.3 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 111.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4.3% during 2024-2032. The market is primarily being driven by the increasing consumer preference for premium wines, considerable growth in wine tourism, rising disposable incomes of individuals, the expanding e-commerce platforms for wine sales, easy availability of diverse grape varietals and wine styles.

Europe Wine Market Analysis:

• Major Market Drivers: There is an increasing consumer preference for premium wines, as more individuals are willing to spend on high-quality products. Rising disposable incomes have made luxury wine more accessible to a broader audience, thereby expanding Europe wine market share.
• Key Market Trends: The European wine market is witnessing several notable trends. Sparkling wines are gaining popularity, particularly among younger consumers.
• Competitive Landscape: Some of the major market players in the Europe wine industry include Pernod Ricard, Diageo, and E. & J. Gallo Winery. These companies are leveraging extensive distribution networks, innovative marketing strategies, and a strong focus on premium product lines to maintain their competitive edge.
• Challenges and Opportunities: Climate change poses a significant challenge, affecting grape production and wine quality. Regulatory issues and trade tariffs can also impact the market. However, there are opportunities in expanding into emerging markets, where demand for European wines is growing. Innovation in wine production and marketing can help producers stay competitive, thereby creating a positive Europe wine market outlook.

Europe Wine Market Trends:

Product premiumization

The trend of product premiumization is driving market expansion as wine consumption becomes increasingly associated with a wealthy and opulent lifestyle among consumers. As a result, consumers in developed economies are curious and seeking to purchase a diverse range of high-quality products. Manufacturers are focusing on the introduction of various premium and sensory brands to the market, responding to the demand for superior quality. This premiumization trend is attracting long-term revenue from global markets. Furthermore, with the recent launch of canned products by companies such as Ardagh Group S.A., millennials and less experienced consumers of liquor around Europe are having higher opportunities to taste and appreciate fine wines.

Increasing alcohol socialization among consumers

Wine production and consumption have expanded rapidly over the past few decades, leading to an increased consumption pattern. Presently, social interactions, modernization, and the increased adoption of Western culture are significant factors promoting alcohol socialization among consumers. There has been a rising demand for low-alcohol beverages, particularly among millennials and young adults, due to their refreshing appeal and low alcohol by volume (ABV) options. This heightened demand incentivizes producers to introduce and offer innovative products to the market, thereby ensuring future market growth.

Emergence of e-commerce platforms

E-commerce channel has become an increasingly popular option for purchasing alcohol in the past few years and is expected to grow further during the forecast period. Consumers are getting various benefits such as a convenient shopping experience, on-time delivery, and others. Thus, the online sales channel is performing a vital role in major markets such as Europe. Manufacturers are also focusing on introducing new e-commerce platforms and entering into collaborations to expand their product sales in the market. The technological advancements and improved distribution networks in e-commerce are further projected to bolster growth in the future.

Europe Wine Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional and country levels for 2024-2032. Our report has categorized the market based on product type, color, and distribution channel.

Breakup by Product Type:

• Still Wine
• Sparkling Wine
• Fortified Wine and Vermouth
   

The report has provided a detailed breakup and analysis of the market based on the product type. This includes still wine, sparkling wine, and fortified wine and vermouth.

Breakup by Color:

• Red Wine
• Rose Wine
• White Wine
   

A detailed breakup and analysis of the market based on the color have also been provided in the report. This includes red wine, rose wine, and white wine.

Breakup by Distribution Channel:

• Off-Trade
• On-Trade
   

The report has provided a detailed breakup and analysis of the market based on distribution channel. This includes off-trade and on-trade.

Breakup by Country:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others
   

The report has also provided a comprehensive analysis of all the major markets in the region, which include Germany, France, United Kingdom, Italy, Spain, and others.

Competitive Landscape:

• The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have been provided. 
• The competitive landscape of the wine market in Europe is moderately fragmented due to the presence of several key players in the market. Consumers are increasingly looking for distinctive and nuanced tasting experiences, placing a premium on wines that demonstrate excellent workmanship, which is driving the Europe wine market growth. As a result, the market players are meeting this demand by providing unique and premium wine options. Some of the key players are also entering into partnerships to expand their global network. For instance, on 28th May 2024, Pernod Ricard and ecoSPIRITS announced a five-year global licensing deal that will allow Pernod Ricard's spirits brands to be distributed to on-trade venues worldwide using ecoSPIRITS' circular packaging technology.

Europe Wine Market Report Scope:

Key Questions Answered in This Report:

• How has the Europe wine market performed so far, and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Europe wine market?
• What is the breakup of the Europe wine market on the basis of product type?
• What is the breakup of the Europe wine market on the basis of color?
• What is the breakup of the Europe wine market on the basis of distribution channel?
• What are the various stages in the value chain of the Europe wine market?
• What are the key driving factors and challenges in the Europe wine market?
• What is the structure of the Europe wine market, and who are the key players?
• What is the degree of competition in the Europe wine market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Europe wine market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Europe wine market.
• The study maps the leading, as well as the fastest-growing, markets. It further enables stakeholders to identify the key country-level markets within the region.
• Porter's five forces analysis assists stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Europe wine industry and its attractiveness.
• The competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.